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Cloud Security – How Safe Is Online Acccounting?

Cloud Security One of the worries many small businesses have about cloud accounting is cloud security. It’s a reasonable question to ask in a world of identity theft and hackers.  And with GDPR on everyone’s mind, we thought it would be a good opportunity to revisit the issue of data protection, cloud security and security in general. The c...

What Is Your Business Worth? And Why Does It Matter?

Why does it matter what your business is worth? Why does it matter what your business is worth? It may be that you are planning on selling it in the future, either for retirement or to explore other challenges.  You’ll also need to know its value if you are planning on raising capital or creating shares. Or you might simply want to put a numb...

Management Accounts (and why you need them to grow your business)

Management Accounts (and why you need them to grow your business)   Most business owners can apply themselves to running basic accounts and tax returns.  You’re an entrepreneur after-all, you’re not afraid of a learning curve and a few late nights. However, management accounts are a whole different ball game and they can really ma...

9 Reasons You Might Be Singled Out For a Tax Investigation (and 5 ways to reduce the risk)

9 Reasons You Might Be Singled Out For a Tax Investigation (...and 5 ways to reduce the risk) HMRC Tax Investigations are known to last 16 months on average and cost thousands of pounds in accountancy fees.  That’s before you even pay any unpaid tax you might be liable for or any penalties.  The good news is that you can protect yourself fro...

Your Own Design Studio – How to Start Up

Design Studio Start Up - Where Do You Start?   When you decide to start up your own design studio there are lots of elements to get to grips with and it might be easy to think that you can figure it out as you go along.  That’s true to a point, but there are some key areas you need to be clear on from the outset to give your busines...

Xero Xenogogy – Budgets

Budgets in Xero   When you’re thinking about the new financial year, it makes sense to start off with a budget. Pinning down your budget at the start of the financial year (or any time for that matter) will enable you to see problems or issues that are coming up further down the line. Using this information, you can more intelligently ...

Grow Your Business with Financial Forecasting

Use Accurate Financial Forecasting to Grow Your Business For many businesses, forecasting is just a stretch too far on your limited resources.  But if you are struggling to get your business to the next level, and if your finances are just too patchy to ever give you the confidence to make that jump then, ironically, forecasting is the very...

Xero with Zero Effort – Raise an Invoice

Invoicing with Xero   Invoicing with Xero, could change your life! Do you remember when raising invoices were an enormous pain?  When you had to copy across the amount and details from one software to another.  Check to make sure the currency was in the correct format for that client, make sure you had given it the right unique invoi...

Refresh Your Business Goals for the New Financial Year

SMART Business Goals for the New Financial Year   The beginning of a new financial year is the SMART time to review your business goals and sharpen your focus on achieving them. But you’re really busy, aren’t you?  You don’t have time to spend noodling with business plans and goals.  Well, that’s an understandable position t...

Making Tax Digital – What’s It All About?

Making Tax Digital – What’s it all about? The government’s Making Tax Digital initiative will change filing tax returns for businesses small and large. But what exactly is it? What is Making Tax Digital? Most of us have heard the phrase Making Tax Digital by now, but not everyone is up to speed on what it means.  Making Tax Digital is...

GDPR Preparation Stage 3

GDPR Preparation for SMEs Stage 3 – Right to be Forgotten, Breaches and Repeat. If you have been following the last 2 stages of our series on GDPR Preparation, you will be on the road to putting into place a reasonably robust start at GDPR compliance.  You’ve identified the data, you’ve located it, you’ve categorised it...

GDPR Preparation Stage 2

GDPR Preparation – Protection, Legal Basis and  Consent – Stage 2 In Stage 1 of GDPR Preparation we covered, Awareness, Assessing Data and Creating a Data Register. By this stage, you will have a solid understanding of what kind of data your company handles, how much you store and how it is stored. You have also started ...